Watford Corp Review – Ponzi Scheme – MLM Scam

The web domain of the company was privately registered on the 30th of July 2019 and was later updated on 2019–10–25. Richard Watford runs the company.

We ran a quick scan about Richard and found a bunch of Press Release articles about him. These PR articles are basically done to create a digital identity about a person. Apart from these artificially pumped articles, we couldn’t find any reliable information about Watford.

Richard Watford has featured himself on a big parallax slide. The photo representation suggests that it was either a stock photo or actor shoot. We also spotted a video of Richard where he is seen reading off a script. We were shocked to see that the company has disabled the comments section. Big red flag!

Another alarming thing we spotted on the website is the company’s claim referring to itself as “the largest holding company operating in the USA”.

What a lie!! You can check this link and see if Watford LLC is listed here or not:List of holding companies
Under the United States Bank Holding Company Act, financial and bank holding companies are regulated by the US Federal…en.wikipedia.org

The company also claims to be incorporated in the U.S, yet does not provide any proof on its website. The address listed on the site and google is Columbia Tower, 701 5th Ave, Seattle, WA 98104, United States.

……and the address belongs to the virtual office provider — Regus.

Anyways, let’s move on to the next section of this review, where we take a look at the product offerings of the company.

Watford Corp’s Products

Watford Corp has no products or services to offer. Watford is all about connecting its members with the sponsored companies that are involved with the company.

Watford Corp’s Compensation Plan

The company markets its investment plans as ‘Energy Plans’ and promises weekly returns.

  • NMW Energy Plan — invest a minimum of $120.37 and receive 5.98% per week
  • Goldmine BMD Plan — invest a minimum of $117.91 and receive 6.1% per week
  • EDV Recycling Plan — invest a minimum of $122.83 or more and receive 6.1% per week
  • Marijuana Diet Plan — invest a minimum of $119.05 or more and receive 6.04% per week

Referral Commissions

The company pays referral commissions via a unilevel compensation structure, capped at 10 team levels

These referral commissions are paid out as a percentage of funds invested across these 10 levels as follows:

  • level 1 (direct recruits) — 8%
  • level 2–5%
  • levels 3 to 5–3%
  • levels 6 to 8–2%
  • levels 9 and 10–1%

Joining Watford Corp

As of now, the affiliate membership is free. However, if you want to participate in the full income opportunity, then a minimum investment of $117.91 (Goldmine BMD Plan) is required.

Conclusion

We reviewed this most uncomfortable website ever, and we couldn’t find anything that corresponds to a real investment plan. Also, Watford Corp is not accredited with the BBB at this time.

For us, Watford checks all the boxes of a typical Ponzi scheme because of the following reasons:

  1. It is highly likely that Richard Watford (the guy we see on the site) is not the real person behind this MLM company. His brits accent suggests that the actor is from the UK. 
  2. Like other Ponzi schemes, they have registered a virtual office in an attempt to look legitimate.
  3. They are not “the largest holding company operating in the USA.”
  4. The company is not registered with the SEC; hence they are committing a securities fraud.

With all the points, what we see that only exists is the company’s MLM plan. We couldn’t find any external source of revenue and hence the only way Watford Corp makes money is via new investments.

The company honours payouts using the money invested by new users. And when new funds stop coming in, you know what happens.